Memorandum of Association Under Company Law, a company is an artificial legal person created by law. It cannot come into existence or function without foundational […]
Tag: CompanyLaw
5. Define Company? Explain in detail the types of companies.
Define Company In the modern business environment, large-scale economic activities cannot be carried on efficiently by individuals alone. To overcome limitations such as lack of […]
4. What is Winding Up? Explain the Winding up of a company by the court on the grounds “Just and Equitable”.
Explain the Winding Up of a Company A company is a separate legal entity created by law, enjoying rights and obligations distinct from its members. […]
16. A husband and wife, who were the only two members of a private limited company, were shot dead by dacoits. Does the company also die with them?
Facts of the Case In this case, a private limited company was owned entirely by a husband and wife, who were the sole shareholders and […]
15. The directors of a company bought shares from ‘A’. They disclose to him that negotiations were conducted for the sale of all the company’s shares at higher price than they were to pay to “A”. A sued to have the sale set aside will he succeed.
Facts of the Case The directors of a company purchased shares from ‘A’. Before completing the transaction, they disclosed that the company’s shares were being […]
14. A company was authorised by its Articles to purchase its own shares. W sold his shares to the company and before the price was paid, the company went into liquidation. Is W entitled to prove in the liquidation for the price of the shares.
Facts of the Case A company, authorised under its Articles of Association to purchase its own shares, agreed to buy shares from a shareholder, W. […]
12. ‘A’ had subscribed memorandum of a company for 100 shares. The company was duly registered but ultimately he took only 10 shares. The company was wound up what is the extent of ‘A’s liability. Explain.
Facts of the Case ‘A’ subscribed to the memorandum of a company for 100 shares at the time of its registration. The company was duly […]
11. A circus company borrowed a sum of money on the security of all its assets including machinery. What kind of charge is created by the circus company? Examine.
Facts of the Case A circus company, engaged in entertainment and commercial activities, required financial assistance for its business operations. To meet its financial needs, […]
9. ‘X’ was a transferee of a share certificate issued under the seal of the defendant company. The certificate was issued by the company’s secretary, who affixed the seal of the company and forged the signatures of the three directors. Advise ‘X’ on legal action.
Facts of the Case ‘X’ purchased shares of a company in good faith and became a transferee of a share certificate issued under the official […]
5. A whole-time director of a company made an invention during the course of his employment with the company. He patented the invention in his own name and appropriated the benefits to himself. Can he do so?
Facts of the Case A whole-time director of a company was employed under a contract of service that required him to devote his full time, […]